Saks Fifth Avenue to Open New Store in Puerto Rico

TORONTO & NEW YORK (9/29/14)–Hudson’s Bay Company (TSX:HBC) and its wholly-owned subsidiary Saks Fifth Avenue announced today plans to open a full-line Saks store in San Juan, Puerto Rico. The approximately 100,000 square-foot, multi-level Saks opens March 26, 2015 in the Mall of San Juan.

“Saks Fifth Avenue Puerto Rico is quite an exciting venture for Saks Fifth Avenue, “ stated Marigay McKee, President of Saks Fifth Avenue. “The San Juan metro area has a very unique, under-retailed market, and we are thrilled to offer the high fashion conscious customer Saks Fifth Avenue’s elite selection of designer fashion and merchandise.”

The new Saks Fifth Avenue location will offer a compelling mix of luxury brands, many of which will be new to the island. Designers to be featured include CHANEL, Saint Laurent Paris, Dior, Miu Miu, Dolce & Gabbana, Fendi and Roger Vivier.

Saks Fifth Avenue will also introduce the Puerto Rico market to its 10022-SHOE Salon, Puerto Rico’s most well-heeled new ZIP Code. Based on the incredibly successful 10022-SHOE concept in New York, which gets its name for being so big it has its own ZIP Code. The extraordinary new space in Puerto Rico will include selections of shoes from luxury brands including Valentino, Saint Laurent Paris, Manolo Blahnik, Christian Louboutin, Giuseppe Zanotti, Michael Kors, Gucci, Salvatore Ferragamo, Jimmy Choo and Chloé.

Saks will also provide a new destination for menswear that will be unmatched on the island. The store will offer a wide array of designer menswear, from sportswear to tailored clothing to contemporary fashion, as well as an assortment of men’s jewelry, watches and shoes.

Sophie’s restaurant will offer an intimate indoor and private dining experience that captures the style and elegance of Saks Fifth Avenue at lunch and dinner during store hours. The new fine dining destination will serve globally influenced American cuisine, with a focus on innovative dishes featuring local, seasonal ingredients.

Saks Fifth Avenue is pleased to announce the appointment of Susset M. Reyes to the position of Vice President and General Manager for the Puerto Rico store. Susset brings years of store management experience from her tenure at J.C. Penney. Susset started her career in retail in 1995 as a Special Events Coordinator for Lancôme. In 1998, she joined J.C. Penney as a Beauty Advisor for Lancôme and continued to hold numerous positions of increasing responsibility including: Customer Service Supervisor, Training Supervisor, Department Manager and Support Operational Manager. In 2009, Susset was promoted to Assistant Store Manager and subsequently to General Manager in 2011. In addition, Susset holds a degree in Business Administration from the Inter-American University of Puerto Rico.

“With the opening at the Mall of San Juan, we will make Saks Fifth Avenue an easy-access luxury shopping destination with a great mix of designers,” commented Susset Reyes, General Manager and Vice President for the Puerto Rico Saks Fifth Avenue store. “I am very passionate about bringing a truly remarkable shopping experience to life. I want to create a magical sense of discovery, empowerment and fantasy when the customers walk into Saks Fifth Avenue Puerto Rico.”

The Saks Fifth Avenue store will anchor the 650,000 square foot shopping and entertainment Mall of San Juan. The Mall of San Juan is expected to create 3,500 new jobs when it opens next year.

ABOUT MALL OF SAN JUANThe $475 million Mall of San Juan is designed to reflect the rich culture and heritage of San Juan. Located adjacent to the San José Lagoon at the south end of the Teodoro Moscoso Bridge, the development is just two miles from the San Juan Luis Muñoz Marín International Airport, the Caribbean’s busiest, and close to the tourism hubs of Isla Verde and Condado.

ABOUT SAKS FIFTH AVENUE

Saks Fifth Avenue, one of the world’s pre-eminent specialty retailers, is renowned for its superlative American and international designer collections, its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts, and the first-rate fashion expertise and exemplary client service of its Associates. As part of the Hudson’s Bay Company brand portfolio, Saks operates 39 full-line stores in 22 states, five international licensed stores, 75 Saks Fifth Avenue OFF 5TH stores and saks.com, the company’s online store.

Saks Fifth Avenue is proud to be named a J.D. Power and Associates 2012 Customer Service Champion and is only one of 50 U.S. companies so named.

ABOUT HUDSON’S BAY COMPANY

Hudson’s Bay Company, founded in 1670, is North America’s longest continually operated company. Today, HBC offers customers a range of retailing categories and shopping experiences primarily in the United States and Canada. Our leading banners – Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH – offer a compelling assortment of apparel, accessories, shoes, beauty and home merchandise. Hudson’s Bay is Canada’s most prominent department store with 90 full-line locations, one outlet store and thebay.com. Lord & Taylor operates 49 full-line locations primarily in the northeastern and mid-Atlantic U.S., four Lord & Taylor outlet locations and lordandtaylor.com. Saks Fifth Avenue, one of the world’s pre-eminent luxury specialty retailers, comprises 39 U.S. stores, five international licensed stores and saks.com. OFF 5TH offers value-oriented merchandise through 78 U.S. stores and saksoff5th.com. Home Outfitters is Canada’s largest kitchen, bed and bath specialty superstore with 69 locations. Hudson’s Bay Company trades on the Toronto Stock Exchange under the symbol “HBC.”